Explanation:

?? The Vakataka dynasty was a Brahmin dynasty of ancient India that emerged in the Deccan region in the middle of the 3rd century CE. Vindhyashakti I was the founder of the Vakataka dynasty.
?? The Vakatakas were contemporary of the Guptas in northern India. Their history can be reconstructed on the basis of a large number of copper-plate land grant charters issued to the Brahmanas. Even though they promoted Brahminism, they were liberal in outlook and patronized Buddhism as well. Hence statement 1 is not correct.
?? In peninsular India, the Vakatakas, were a local power that ruled over northern Maharashtra and Vidarbha. Hence statement 2 is correct.
?? The Vakatakas are noted for having been patrons of the arts, architecture, and literature. Under the patronage of the Vakataka king Harisena, the rock-cut Buddhist viharas and chaityas of the Ajanta Caves, which are now UNESCO World Heritage Site, were constructed. Hence statement 3 is correct.
?? Pravarasena (c. 270-330 CE) is credited with establishing the true power and greatness of the Vakataka dynasty. He expanded the empire into Vidarbha and neighboring regions of the Deccan, with Kanchanaka serving as his capital. Among the Vakataka kings, Pravarasena was the only one to adopt the title of Samrat, while the others preferred the more humble title of Maharaja.